TeraWulf Eyes Massive $3.5B Debt Raise to Fuel Anthropic-Linked Data Center
Bitcoin mining powerhouse TeraWulf is reportedly targeting a massive $3.5 billion debt financing round to scale its Kentucky-based Justified Data campus. Led by Morgan Stanley, this ambitious capital raise is designed to bolster the high-performance infrastructure currently leased by AI leader Anthropic.
The deal, expected to launch this year, may utilize leveraged loans and high-yield bonds, marking TeraWulf's strategic debut in the leveraged loan market. This pivot underscores the growing convergence between Bitcoin mining infrastructure and the skyrocketing computational demands of the artificial intelligence sector.
The deal is expected to launch this year, with investment bank Morgan Stanley leading the financing effort, according to TeraWulf CFO Patrick Fleury. The transaction could include leveraged loans and high-yield bonds, marking TeraWulf’s first entry into the leveraged loan market.
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